Here are the companies in the news ahead of the bell:
Meta Platforms — The parent company of Facebook and Instagram saw a nearly 3% rise. Reports from CNBC indicated that Meta is reducing its workforce in the Reality Labs division.
Alphabet — The owner of Google and YouTube surged over 4% after its first-quarter results exceeded Wall Street forecasts. The company reported earnings of $2.81 per share on revenues of $90.23 billion, surpassing the anticipated $2.01 per share and $89.12 billion in revenue from analysts at LSEG.
T-Mobile — Shares of this telecom provider dropped by 5.5% as it reported fewer new wireless phone subscribers for the first quarter than expected, adding 495,000 postpaid phone customers against an anticipated 504,000, according to StreetAccount. However, its earnings and revenue for the quarter exceeded expectations.
Intel — The chip manufacturer fell 7.2% after disappointing outlook for the upcoming quarter. Intel projected revenue of $11.8 billion for June, below the consensus estimate of $12.82 billion from LSEG. The company expects to break even on earnings and announced plans to cut operational and capital expenses.
Gilead Sciences — Shares in this biopharmaceutical company dropped 3.9% after reporting first-quarter revenue of $6.67 billion, lower than the $6.81 billion expected by analysts from LSEG. Gilead posted earnings of $1.81 per share, excluding certain items, compared to the $1.79 forecasted by Wall Street.
Skechers — The shoe manufacturer saw a 6% decline after reporting first-quarter revenue that fell short of expectations and announced it would withdraw its financial forecasts for 2025 due to “macroeconomic uncertainty from global trade policies.” Nonetheless, Skechers’ overall performance was better than what analysts had predicted.
Charles Schwab — The financial services firm rose 1.4% after Goldman Sachs upgraded its rating from neutral to buy, citing Schwab as a resilient growth company in challenging market conditions.
Hasbro — The toy manufacturer increased by about 1% after a remarkable jump of 15% the previous day. Citigroup raised its investment rating from neutral to buy, stating that Hasbro’s better-than-expected performance from its Wizards of the Coast segment outweighs the concerns related to tariff policies, as noted by analyst James Hardiman.
Boston Beer — Shares of the Samuel Adams producer climbed nearly 3% after exceeding first-quarter earnings expectations. Boston Beer reported earnings of $2.16 per share on $453.9 million in revenue, while analysts at FactSet expected only 56 cents per share on $435.6 million in revenue. However, Boston Beer cautioned that tariffs might affect its full-year earnings outlook.
— Reporting contributed by CNBC’s Alex Harring and Jesse Pound.
Get Your Ticket to Pro LIVE
Join us at the New York Stock Exchange!
In times of market uncertainty, gain valuable insights with CNBC Pro LIVE, a special inaugural event at the historic NYSE. As a CNBC Pro subscriber, we would love for you to be part of our first exclusive in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Participate in engaging Pro clinics led by Carter Worth, Dan Niles, and Dan Ives, alongside a special edition of Pro Talks with Tom Lee. Plus, network with CNBC experts and fellow Pro subscribers during a cocktail hour on the legendary trading floor. Hurry, tickets are limited!
Tech Titans Unleashed: META, INTC, GOOGL and Beyond!
By Press Room
SITE LINKS
© 2025 The Smart Times. All Rights Reserved.